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<br /> <br /> <br />Councilmember Kuzma introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #13-08-131 <br /> <br />RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $635,000 <br />GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDNESS, <br />SERIES 2013A, AND LEVYING A TAX FOR THE PAYMENT THEREOF <br /> <br />A.WHEREAS, the City of Ramsey, Minnesota (the "City"), has heretofore <br />determined and declared that it is necessary and expedient to issue $635,000 General Obligation <br />Equipment Certificates of Indebtedness, Series 2013A (the "Certificates" or individually, a <br />"Certificate"), pursuant to Minnesota Statutes, Chapter 475 and Minnesota Statutes, Sections <br />410.32 and 412.301, to finance the purchase of various items of capital equipment for the City <br />(the "Equipment") and each item of equipment to be financed by the Certificates has an expected <br />useful life at least as long as the term of the Certificates; and <br /> <br />B.WHEREAS, the amount of the Certificates to be issued does not exceed one- <br />quarter of one percent (0.25%) of the market value of the taxable property in the City <br />($1,806,808,800 times 0.25% is $4,517,022); and <br /> <br />C.WHEREAS, no other obligations have been sold pursuant to a private sale within <br />the last twelve calendar months of the date hereof which when combined with this issue would <br />exceed the $1,200,000 limitations on negotiated sales as required by Minnesota Statutes, Section <br />475.60, Subdivision 2(2); and <br /> <br />D.WHEREAS, it is in the best interests of the City that the Certificates be issued in <br />book-entry form as hereinafter provided; and <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />1.Acceptance of Offer. The offer of Northland Securities, Inc. (the "Purchaser"), to <br />purchase the Certificates in accordance with the terms and at the rates of interest hereinafter set <br />forth, and to pay therefor the sum of $622,554.00, plus interest accrued to settlement, is hereby <br />confirmed and accepted. <br /> <br />2.Certificate Terms. <br /> <br />(a)Original Issue Date; Denominations; Maturities; Term Bond Option. The <br />Certificates shall be dated September 1, 2013, as the date of original issue, shall be issued <br />forthwith on or after such date in fully registered form, shall be numbered from R-1 upward in <br />the denomination of $5,000 each or in any integral multiple thereof of a single maturity (the <br />"Authorized Denominations") and shall mature on the September 1 in the years and amounts as <br />follows: <br /> <br />5604150v1 <br /> <br /> <br />